Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
The Pentagon is bracing for a possible three-month delay across its major acquisition programs because of the COVID-19 outbreak, while Congress is eying another massive economic rescue package that could push billions in new funding to defense contractors.
As an industry group pushes for the Defense Logistics Agency to reverse its policy on accelerated payments, the Pentagon says the adjustment would require a new appropriation.
L3Harris Technologies said it is speeding more than $100 million in payments to small business suppliers across the country in the wake of the coronavirus outbreak.
Lockheed Martin said it is lowering its sales guidance for the year, primarily because of expected challenges to F-35 production related to the coronavirus crisis.
Lockheed Martin said it is more than halfway toward its goal of accelerating $450 million in payments to suppliers.
A trade association representing shipbuilders says its industry surveys have shown absenteeism, a lack of personal protective equipment and supply chain dynamics are the biggest problems facing shipbuilders during the global pandemic.
The National Defense Industrial Association said its survey of small businesses found that companies are struggling with hitting sales expectations, meeting contract obligations and getting access to capital in the midst of the coronavirus outbreak.
Parsons said it has added Letitia Long, the former director of the National Geospatial-Intelligence Agency, to its board of directors.
Several companies will host calls this week to report quarterly earnings, while think tank analysts meet to discuss the impact COVID-19 might have on defense spending and the Pentagon's supply chain.
Federal agencies have mostly followed key practices as they reform the "high-risk" security clearance process, according to a new Government Accountability Office report.
The Pentagon's hypersonics "war room" is closely tracking how the COVID-19 pandemic is affecting the supply chain, especially smaller companies that make key components supporting the technology, according to a senior defense official.